Financing Your Education

Financial aid plans are provided through the Federal Pell, the Federal Supplemental Educational Opportunity Grant (FSEOG), or the Direct Lending program (Subsidized loans for undergraduate students only, Unsubsidized Loans, and Federal PLUS loans). The University of Arizona Global Campus encourages its students to borrow responsibly. When reviewing the costs of attendance budgets, students are strongly encouraged to borrow only what they need.

Financial aid encompasses any resource that you receive which assists you with paying for college expenses.

Federal financial aid is need-based aid and can include the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), or loans through the Direct Lending program (Subsidized loans for undergraduate students only, Unsubsidized loans, and Federal PLUS loans).

Federal student loans are low-interest loans that must be repaid, generally after graduation or when you withdraw from school. Loans are also available to parents of dependent students. The University of Arizona Global Campus encourages its students to borrow responsibly. When reviewing the costs of attendance budgets, students are strongly encouraged to borrow only what they need.

Grants and scholarships are types of aid that do not need to be repaid unless you are unable to meet the terms of the grant. Your eligibility for grants and scholarships will always be considered first before any eligible loans, and you're encouraged to accept any grants and scholarships that you are offered.

The University provides a convenient online process for completing your financial aid. This process includes all required financial aid forms, options for electronically signing your application, and links to complete any additional documents. If you are currently enrolled, you may begin the financial aid application process right away.

Financial aid applicants must provide the University of Arizona Global Campus with all documents required to complete the verification and certification of federal financial aid funds. All core financial aid documents – Free Application for Federal Student Aid (FAFSA®), Institutional Financial Aid Application, Direct Loan Master Promissory Note, and Entrance Loan Counseling – must be on file with UAGC by 11:59 pm MT (Mountain Time Zone) the Wednesday prior to the student’s scheduled start date. UAGC may be required to verify elements of your FAFSA^®. Financial aid applicants must provide UAGC with all documents required to complete the verification and certification of federal financial aid funds. If you fail to supply the documents or are unable to qualify for federal financial aid, you will be responsible for any outstanding balances incurred and must select another payment option. Continuous attendance with no breaks greater than 14 calendar days is required to retain disbursed federal financial aid funds unless you are on an officially approved break from the University.

Interest is money paid to the lender as a cost for borrowing money. In the case of federal student loans, the U.S. Department of Education is the lender. Interest rates are determined by Congress and are calculated as a percentage of the unpaid principal amount (loan amount) borrowed. Interest rates vary depending on the loan type and the disbursement date of the loan. The U.S. Department of Education provides an updated table of interest rates on its website.

Federal Pell Grants

A Pell Grant is awarded only to undergraduate students who have not earned a bachelor's or professional degree and have financial need. Pell Grants provide a foundation of financial aid for many students to which other aid may be added. When you complete the Free Application for Federal Student Aid (FAFSA), your eligibility for a Pell Grant is automatically determined. The U.S. Department of Education uses a standard formula to evaluate your Student Aid Index (SAI) The amount a student receives depends on the SAI, cost of attendance, and enrollment status. Pell Grants are limited each award year in amount depending upon Pell Grant program funding and a maximum per student amount and is set by the federal government.

Federal Supplemental Educational Opportunity Grants (FSEOG)

An FSEOG is awarded only to undergraduate students who have exceptional financial need. Priority is given to students who have received a Federal Pell Grant. The amount a student receives depends on the level of need, the amount of available FSEOG funding at the institution, and the policies of the financial aid department at the school. These grants will be awarded to the neediest of eligible students. The University of Arizona Global Campus may use priority awarding deadlines and historical experience to ensure that those students with exceptional financial need receive priority in receiving FSEOG funds.

Federal Direct Loans

There are two main categories of federal Direct Loans, subsidized loans (need based) and unsubsidized loans (non-need based). Students generally begin repaying these low-interest loans six months after graduation or following withdrawal from school. Loans are also available to the parents of dependent students.

Direct Subsidized Loan

• Available to undergraduate students only, these need-based loans are awarded to families to assist with educational expenses.
• The U.S. Department of Education acts as the lender and the loan is federally insured.
• Loan available to students enrolled at least half-time and demonstrate financial need
• Student is usually not charged interest on the loan during certain periods

Direct Unsubsidized Loan

• Available to graduate and undergraduate students, these loans are non-need based, meaning financial need is not required.
• The U.S. Department of Education acts as the lender and the loan is federally insured.
• Interest begins to accrue as of the date of the first disbursement of the loan.
• Loan available to students enrolled at least half-time
• Students have the option of paying the interest while they are in school or waiting until the principal repayment plan begins.

Direct PLUS Loan

• A Parent Loan for Undergraduate Students (PLUS) is a loan borrowed by the parents of the student. Parents can borrow up to the total cost of attendance minus any other financial aid received.
• The U.S. Department of Education acts as the lender and the loan is federally insured
• Parents are responsible for the interest that begins to accrue as of the date of the first disbursement of the loan.
• Repayment of a PLUS loan generally begins on the date of the last disbursement of the loan and may extend for 10 years; however, parents do have the option of delaying repayment until six months after their dependent student is no longer enrolled at least half-time
• Borrower must not have a negative credit history.

Direct Grad PLUS

• PLUS loans for graduate/professional students allow graduate/professional students to borrow up to the cost of attendance (COA) minus other aid.
• There is no grace period for a Grad PLUS loan and interest accrues on the loan from the point of disbursement
• Repayment begins on the date of the last disbursement of the loan, however, while enrolled in school on at least a half-time basis, you are eligible for an in-school deferment that allows you to postpone payments on your Grad PLUS Loan until you graduate or separate from school